Granite Point Mortgage Trust (GPMT)
NYSE:GPMT
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Granite Point Mortgage
(NYSE:GPMT)
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Rating:46Neutral
Price Target:
$1.50
▼(-6.25% Downside)
Action:Reiterated
Date:06/06/26
The score is held down primarily by weak financial performance—persistent net losses and poor/negative free cash flow—despite improving leverage. The earnings call adds some support due to clear deleveraging progress and a stated path to earnings improvement via future originations, but near-term credit stress (nonaccruals and elevated CECL) remains a key risk. Technicals are only modestly supportive and valuation is mixed, with a high yield offset by loss-making results.
Positive Factors
Deleveraging & Liquidity Improvement
Sustained deleveraging and a meaningful cash buffer reduce refinancing and funding risk, lower interest expense pressure, and increase capacity to weather CRE volatility. Over 2–6 months, improved leverage materially strengthens balance-sheet flexibility to resolve credits and support new originations.
Negative Factors
Persistent net losses & weak cash generation
Material and recurring net losses with negative free cash flow impair the REIT's ability to self-fund originations, rebuild capital, or sustainably cover dividends. Over several quarters this limits strategic flexibility and increases reliance on external funding or asset sales to normalize earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging & Liquidity Improvement
Sustained deleveraging and a meaningful cash buffer reduce refinancing and funding risk, lower interest expense pressure, and increase capacity to weather CRE volatility. Over 2–6 months, improved leverage materially strengthens balance-sheet flexibility to resolve credits and support new originations.
Read all positive factors
Granite Point Mortgage (GPMT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$63.25M
Dividend Yield7.97%
Average Volume (3M)137.61K
Price to Earnings (P/E)―
Beta (1Y)1.29
Revenue Growth-23.52%
EPS Growth64.81%
CountryUS
Employees33
SectorReal Estate
Sector Strength53
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)-1.08
Shares Outstanding47,919,624
10 Day Avg. Volume108,443
30 Day Avg. Volume137,607
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.21
Price to Sales (P/S)0.79
P/FCF Ratio43.08
Enterprise Value/Market Cap15.75
Enterprise Value/Revenue7.43
Enterprise Value/Gross Profit19.39
Enterprise Value/Ebitda-117.77
Forecast
1Y Price Target
$1.50Price Target Upside-6.25% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.99
Revenue Forecast (FY)$31.90M
Granite Point Mortgage Business Overview & Revenue Model
Company Description
Granite Point Mortgage Trust Inc. functions as a real estate investment trust (REIT) primarily engaged in the commercial property market across the United States. The company's core business involves initiating, acquiring, and overseeing senior fl...
How the Company Makes Money
GPMT makes money primarily by earning net interest income on its investment portfolio. (1) Interest income on loans: The core revenue stream is interest collected from borrowers on senior commercial mortgage loans, which are commonly floating-rate...
Granite Point Mortgage Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Neutral
The call presented a balanced view: management has executed meaningful deleveraging and asset resolutions (repayments, sales above par, reduced leverage and specific CECL after a post-quarter sale) and laid out a clear plan to redeploy capital into higher-yielding originations and capital-light JV opportunities. However, near-term results remain pressured by nonaccrual loans, elevated CECL reserves, an increase in portfolio risk ratings, a GAAP net loss for the quarter, and ongoing macro/geopolitical uncertainty that is lengthening deal timelines. The progress on legacy asset resolutions and improved funding posture are positive, but earnings and portfolio growth depend on resolving remaining problem loans and restarting originations.Positive Updates
Significant Loan Repayments and Portfolio Deleveraging
Executed two sizable full loan repayments totaling $174 million and other paydowns/sales/amortization of approximately $189 million in Q1, resulting in a net loan portfolio reduction of about $175 million for the quarter.
Negative Updates
GAAP Net Loss and Distributable Loss
Reported a GAAP net loss attributable to common stockholders of $6 million (‑$0.13 per basic share) in Q1 and a distributable loss of $3 million (‑$0.06 per basic share), reflecting near-term earnings drag from collateral-dependent assets.
Read all updates
Q1-2026 Updates
Positive
Negative
Significant Loan Repayments and Portfolio Deleveraging
Executed two sizable full loan repayments totaling $174 million and other paydowns/sales/amortization of approximately $189 million in Q1, resulting in a net loan portfolio reduction of about $175 million for the quarter.
Read all positive updates
Company Guidance
Management guided that commercial real estate lending activity should continue to improve through 2026 and that Granite Point expects to restart originations later in 2026 to regrow the portfolio, redeploying capital freed by recent actions (Q1 net loan portfolio reduction of ~$175M driven by ~$189M of repayments/paydowns/sales/amortization, including two repayments totaling ~$174M and a $13M B‑note sale) from a current $1.6B in total loan commitments ($1.5B UPB, $68M future fundings, ~4% of commitments). They said they will continue paying down higher‑cost debt (leverage fell from 2.0x to 1.7x), target improving net interest spread and earnings (Q1 GAAP net loss attributable to common was $6M, -$0.13/share; distributable loss $3M, -$0.06/share; GAAP loss ex‑credit losses from collateral‑dependent loans/REO ≈ $0.11/share), and expect redeploying capital into new originations at target leverage to boost quarterly EPS by about $0.17–$0.19; liquidity and reserves metrics included unrestricted cash of ~$44M at quarter‑end (≈$56M several days later), aggregate CECL reserve of ~$149M (≈$100k higher QoQ) with ~334M UPB on loans with specific reserves of ~$120M (36% of UPB) and ~81% of the allowance allocated to individually assessed loans, and management noted CECL as a % of commitments could fall from 9.4% to ~7.9% after recent resolutions; they also highlighted potential capital‑light JV income of $2M–$4M in year one and prioritized resolving remaining risk‑rated five loans (post‑quarter UPB ≈$189M) and REO (Boston, Miami Beach) with some sales expected over the coming quarters.Granite Point Mortgage Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 134.17M | 145.28M | -165.53M | -22.67M | 78.26M | 87.53M |
| Gross Profit | 51.39M | 120.62M | -170.88M | -27.99M | 78.26M | 87.53M |
| EBITDA | -8.46M | 56.88M | 6.51M | 3.49M | 0.00 | 16.56M |
| Net Income | -36.56M | -41.15M | -207.05M | -63.20M | -40.83M | 68.35M |
Balance Sheet | ||||||
| Total Assets | 1.54B | 1.76B | 2.12B | 2.85B | 3.45B | 3.99B |
| Cash, Cash Equivalents and Short-Term Investments | 43.55M | 65.96M | 87.79M | 188.37M | 133.13M | 191.93M |
| Total Debt | 972.55M | 1.17B | 1.47B | 1.95B | 2.43B | 2.26B |
| Total Liabilities | 998.61M | 1.20B | 1.50B | 1.99B | 2.47B | 2.97B |
| Stockholders Equity | 543.74M | 552.69M | 619.09M | 858.90M | 984.54M | 1.01B |
Cash Flow | ||||||
| Free Cash Flow | -1.87M | 2.67M | 5.99M | 52.10M | 58.90M | 60.30M |
| Operating Cash Flow | 4.52M | 2.67M | 8.76M | 52.10M | 58.90M | 60.30M |
| Investing Cash Flow | 392.54M | 299.00M | 435.24M | 561.43M | 408.63M | 139.77M |
| Financing Cash Flow | -453.34M | -336.07M | -528.74M | -554.47M | -531.66M | -324.97M |
Granite Point Mortgage Technical Analysis
Negative
1.60
Price Trends
1.45
Negative
1.57
Negative
2.05
Negative
Market Momentum
-0.01
Positive
35.47
Neutral
6.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GPMT, the sentiment is Negative. The current price of 1.6 is above the 20-day moving average (MA) of 1.45, above the 50-day MA of 1.45, and below the 200-day MA of 2.05, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 35.47 is Neutral, neither overbought nor oversold. The STOCH value of 6.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GPMT.
Granite Point Mortgage Risk Analysis
Granite Point Mortgage disclosed 72 risk factors in its most recent earnings report. Granite Point Mortgage reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Granite Point Mortgage Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $185.29M | 12.01 | 5.14% | 13.82% | -7.31% | -22.36% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | $85.60M | 6.04 | 6.09% | 21.65% | -7.99% | ― | |
53 Neutral | $118.45M | 4.20 | 6.11% | ― | -11.12% | 106.91% | |
52 Neutral | $256.32M | -12.87 | -3.88% | 13.75% | -35.42% | -46.68% | |
49 Neutral | $52.44M | -25.99 | -0.90% | 23.03% | -28.61% | -164.74% | |
46 Neutral | $63.25M | -1.72 | -6.46% | 7.97% | -23.52% | 64.81% |
* Real Estate Sector Average
GPMT
Granite Point Mortgage
1.32
-0.88
-40.11%
ACRE
Ares Commercial
4.62
0.34
7.97%
ACR
ACRES Commercial Realty
16.61
-0.68
-3.93%
SEVN
Seven Hills Realty Trust
8.20
-2.17
-20.91%
LFT
Lument Finance Trust
1.00
-1.20
-54.61%
CHMI
Cherry Hill Mortgage
2.33
-0.16
-6.46%
Granite Point Mortgage Corporate Events
Executive/Board ChangesShareholder Meetings
Granite Point Mortgage Updates Director Pay, Confirms Board
Positive
Jun 5, 2026
On June 4, 2026, Granite Point Mortgage Trust’s board adopted a revised director compensation policy that rebalances board pay between equity and cash. Independent directors will now receive a $100,000 annual cash retainer, with higher amoun...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.